ETCETH
A Different Way to Look at AltcoinsWhen looking at some of the smaller altcoins, we can look at the /btc and the /eth chart to supplement our technical analysis.
When we see bullishness on the /btc or the /eth chart and the /usd chart, we know that the breakout is much more likely and have more confirmations on our analysis.
Looking at the etc/eth pair, we see that the price is forming a falling wedge. Each time a falling wedge formed in the past, the price made immense surges. Why would this time be any different? By taking the length of the opening of the wedge and adding it to the bottom of the wedge, we get a first target of 0.06 ETH. That almost doubles our money... in terms of ETH. If you expect ETH to continue rising, this trade could more than double our money!
ETCETH - This looks like a classic textbook bottomETC has been hammered against ETH but here look like a 10X opportunity for contrarian investors. Volumes are low, no one interested so there is an opportunity to get in before others get interested. All minimum requirement for the diagonal triangle have been met. Looks like the low is already in place or it would form in the coming sessions. As with any low, the initial rally attempt is always weak so we could expect that but long there is a 10X potential here if it revisit ICO time high.
ETC - 5th correction waves completed, confirmed by double bottomETC bull cycle is coming. The last correction has ended at the bottom. Price bounced up and confirmed that support 59 days later. Cleary two strong signals for a bullish market.
On the daily chart, MACD is crossing the signal line and goes bold-ish up. Volume is getting positive. RSI shows also a lot of space to accumulate.
Ethereum Classic - 1 Day ChartTarget: 35.5
Stop-Loss: 23.5
ETC is approaching the 1.618 fib line and has formed a bullish flag that should breakout at any time. RSI is bullish and we are also about to touch the mid-term support. Volume looks to be picking up. If we break the mid-term support look to exit the trade.
ETCUSD TradeI see a great trade opportunity as Risk:Reward is very favorable
The up-trending support & down-trending resistance line converge to form an apex, that signals us ETC will run out of space soon.
Entry at $17 to $18.5 would be recommended.
Any lower may be a bearish sign and higher will lower potential gain:potential loss ratio
Stop loss can be set in local swing lows, in second red rectangle 'zone', or around $15-16.
Profit targets are:
$19.5 (soft resistance, short term safe target)
$21 (strong resistance + 1.618 fib extension, main target)
$25 (fib extension 2.618, medium term target, higher risk & less likely to happen)
Risk Reward: 2.5+
ETH vs ETC (The Sleeping Giant)Upon my studying of the massive long term wedge formed on ETH chart I looked at it's comparison to ETC in lieu of recent spike and low and behold we have a buy signal. This is before our signal in ETH has triggered a buy or sell. Early entry here with tight stop below the trendline.
ETCETH Trading IdeaPrice passed from the kumo and DMI confirms strong upward movement. We have buy opportunity. We can open long trades based on a trading signal from Ichimoku indicator. But in such way our entry is near 0.100000 level. It's the strong resistance level and price can bounce from it and drop to the uptrend line. RSI is in the overbought zone and it's an additional confirmation for possible retracement. How we should trade in this market? It's better to wait when price breaks the resistance level and after that returns to Tenkan or Kijun lines. When we get a reversal signal from one of these lines, we'll be able to open long trades above 0.100000 level. Stop orders will have to be below the local swing low. Profit targets for long trades will be at 0.130000, 0.150000 and 0.180000 resistance levels. Also if price drops to the kumo and 0.081000 support level and we get a reversal signal confirmed by RSI, we'll be able to buy with profit target at 0.100000 resistance level. Don't forget that all trades must be opened using just a part of your deposit. Proper money management strategy is the key to stable and profitable trading in long term.
ETCETH: Interesting pattern here$ETCETH implies that $ETC will outperform $ETH to the tune of 200%, give or take. By this week's close, we will trigger a 14 week rally, the daily chart is already in a strong uptrend here, just taking off.
I added to my $ETC position, now holding a half position, and waiting to add some more on dips, after making some more progress. I think this is an interesting trade right now, with $ETCEUR's upside potential, and also as a hedge to our $ETH exposure.
Best of luck,
Ivan Labrie.
ETC Nice and Steady; What do you see?Few notes on ETC
A lot is shared already, I hope this post would be an addition
1. clear channel is in place on the daily channel; note black lines
2. some see an inverse head and shoulder, others see a cup and handle, triangle or even an Elliot wave in progress. All are in agreement it is an uptrend with good potential.
3. Volumes are not massive, compared to other areas where we had massive correction afterwards, note the lower horizontal bar to mark the volume levels.
4. The squeeze indicator still showing next move should be a big one
If you are in this since our previous chart, My own choice is to hold.
If you are willing to join, aggressive trader joins now, very conservative ones buy the dips around the .0075 to 0.0078 Mark as correction is possible, Neckline or lower trend line.
to sum it, ETC is closely approaching on it's previous ATH achieving small steps gives it a better potential of a fly after the break.
I remember yesterday I was thinking if we settle above the .0081 mark that would be a great stop and here we are.
Overall, the market is building back its confidence towards printing large green bars like it used to do one month ago.
Please do you research
See my other charts for ETC for the last 2 months
Please let me know what do you think?
Best of luck all,
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